New Task Force to Review Income Tax Act, 1961


F No 370149/230/2017 
Government of India 
Ministry of Finance 
Department of Revenue 
Central Board of Direct Taxes 
(TPL Division) 

New Delhi, June 24, 2019 

OFFICE ORDER  

In order to review the existing Income-tax Act, 1961 and to draft a new direct tax law in consonance with economic needs of the country, the Government had constituted a Task Force vide Office Order of even number dated 22.11.2017, the Terms of Reference (ToR) being drafting an appropriate direct tax legislation keeping in view: 

(i) the direct tax system prevalent in various countries, 
(ii) the international best practices. 
(iii) the economic needs of the country and 
(iv) any other matter connected thereto. 

2. The Task Force was reconstituted under the Convenorship of Shri Akhilesh Ranjan, Member (Legislation), CBDT vide Order of even number dated 26.11.2018 and the Convenor was authorised to co-opt any person as Member. Accordingly, Ms Pragya S Saksena IRS 87004 has been co-opted as Member on 21.12.2018. 

3. Shri Arvind Subramanian, Chief Economic Adviser (CEA) was a permanent special invitee to the Task Force as per the order dated 22.11.2017. He has since demitted the office and Shri Krishnamurthy Subramanian has taken over as the CEA. It has been decided to nominate Shri Subramanian as member of the Task Force. 

4. If has been further decided that the ToR shall be broadened to include: 

(i) The Faceless and anonymized verification/ scrutiny/ assessment 
(ii) The mechanism for system based cross verification of the financial transactions 
(iii) Reduction in litigation and expeditious disposal of appeals before the CF. (Appeals), ITAT, High Courts and Supreme Court (iv) Reduction of compliance burden by simplification of procedures 
(v) Sharing of information between GST, Customs, CBDT, FlU 

5. In view of the expanded ToR which includes sharing of data between agencies, it has been decided to nominate Shri Ritvik Pandey, Joint Secretary (Revenue) as member of the Task Force as well. 

6. Other terms and conditions of the orders issued till now shall remain the same. 

7. This issues with the approval of the Finance Minister. 

(Niraj Kumar) 
Joint Commissioner of Income-tax (OSD) (TPL)-1 
Tel: 011-2309 5468 E-mail: niraj.kumar82©nic.in 

Copy to: 

(i) PS to FM/ PS to MoS (Finance) 
(ii) Sr PPS to Revenue Secretary 
(iii) Shri Krishnamurthy Subramanian, CEA 
(iv) PS to Chairman, CBDT 
(v) The Convener and Members of the Task Force
(vi) Shri Ritvik Pandey
(vii) All officers in TPL & TPRU Divisions 

JCIT (OSD) (TPL)-1 
 


Posted :
on 27 June 2019
 
Published in Income Tax
Source : ,
Views : 1464



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